This paper reviews the development of the social security system and trends in the urban labor market in the Peoples Republic of China (PRC). Despite its remarkable economic achievement, the PRC faces a difficult path before it can reform and improve its social security system and provide basic...

Recent reforms that aim at reducing the upcoming burdens of population ageing might seriously harm low income individuals. An increase in old-age poverty and disability will be the result. Under this prospect, the present paper quantitatively characterizes the optimal progressivity of unfunded...

This paper investigates the fiscal pressure from demographic change in relation to the labour marketspace for fifty countries that cover 75% of the world population. The pressure-to-space indicator ranks Poland, Turkey and Greece high. Apart from Turkey and India, developing countries rank low...

his paper describes a newly extended version of the dynamic micro simulation model SADNAP (Social Affairs Department of the Netherlands Ageing and Pensions model). SADNAP is being developed for calculating the financial and economic implications of the ageing of the population and of the...

Public pension systems based on the Notional Defined Contribution (NDC) principle were introduced during the ‘90s in Italy, Sweden and Poland, among other countries. They mimic private savings, in that individuals get back, as pensioners, what they contributed to social security during working...

Muir and Turner gather an international roster of pension experts who present what they think would be the ideal pension systems for their countries and why. Those countries include the United States, the UK, Ireland, Denmark, Germany, Belgium, France, Switzerland, Poland, and Japan.

This paper deals with Alternative Risk Transfer (ART) through the securitization of longevity and mortality risks in pension plans and commercial life insurance. Various types of such mortality-linked securities are described (e.g., CATM bonds, longevity bonds, mortality forwards and futures,...

Flexible retirement - that is, the opportunity to choose one’s own personal retirement age - serves as a hedge against pension risk and provides insurance to workers facing health or productivity shocks. This paper discusses three conditions to provide insurance through flexible...

Pension reform in Poland is an urgent priority. Benefit expenditures have placed considerable pressure on public finances, hampering stabilization efforts. Demographic developments will exacerbate this pressure although probably less than some estimates have suggested. The main long-term...

We used matched employer-employee data for the period 1992-1997 to analyse the transition from work to early retirement in Norway. We focus on the effect of a new early retirement scheme ("AFP") of which some 60 percent of the population is eligible. We thus observe individuals in two different...